Account Bank Agreement

Account Bank Agreement Template for Germany

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Key Requirements PROMPT example:

I need an Account Bank Agreement under German law for a mid-sized manufacturing company that requires multi-currency accounts, SEPA payments, and electronic banking services, with implementation planned for March 2025.

Document background

The Account Bank Agreement is a fundamental document used to establish and govern the relationship between a bank and its corporate clients under German law. It is typically required when a company needs to open and maintain bank accounts for its business operations in Germany. The agreement comprehensively addresses account services, payment processing, electronic banking facilities, and regulatory compliance requirements, including KYC/AML obligations under German banking regulations. It serves as the master agreement for all banking services provided, incorporating specific German legal requirements from the Banking Act (KWG), Civil Code (BGB), and relevant EU regulations. The document is particularly important for international companies operating in Germany, as it ensures compliance with local banking regulations while establishing clear operational procedures.

Suggested Sections

1. Parties: Identification of the account bank and the account holder(s)

2. Background: Context of the agreement and relationship between the parties

3. Definitions and Interpretation: Definitions of key terms and interpretation rules

4. Appointment and Duration: Formal appointment of the account bank and term of the agreement

5. Account Opening and Maintenance: Requirements and procedures for opening and maintaining accounts

6. Account Operation: Rules and procedures for operating the accounts, including authorized signatories

7. Payment Services: Terms governing payment services, transfers, and processing

8. Fees and Charges: Fee structure, payment terms, and calculation methods

9. Representations and Warranties: Standard representations and warranties from both parties

10. Bank's Rights and Obligations: Key responsibilities and rights of the bank

11. Account Holder's Rights and Obligations: Key responsibilities and rights of the account holder

12. Compliance and Regulatory Matters: KYC, AML, sanctions, and other regulatory requirements

13. Data Protection: GDPR compliance and data processing terms

14. Liability and Indemnity: Limitation of liability and indemnification provisions

15. Termination: Termination events and procedures

16. Governing Law and Jurisdiction: Choice of German law and jurisdiction provisions

17. Miscellaneous: Standard boilerplate provisions including notices, amendments, etc.

Optional Sections

1. Electronic Banking Services: Terms for online banking access and services - include if electronic banking services are offered

2. Securities Accounts: Terms for securities custody and trading - include if securities services are part of the agreement

3. Foreign Currency Accounts: Specific terms for foreign currency accounts - include if foreign currency accounts are offered

4. Credit Facilities: Terms for any overdraft or credit facilities - include if credit services are offered

5. Special Account Types: Terms for special account types (escrow, trust, etc.) - include if special accounts are offered

6. Set-off Rights: Detailed set-off provisions - include for complex banking relationships

7. Tax Matters: Specific tax-related provisions - include if tax-specific arrangements are needed

Suggested Schedules

1. Account Details: List of accounts, account numbers, and specific terms for each account

2. Fee Schedule: Detailed breakdown of all applicable fees and charges

3. Authorized Signatories: List of authorized signatories and signature specimens

4. Operating Procedures: Detailed operational procedures and requirements

5. Electronic Banking Procedures: Technical requirements and security procedures for electronic banking

6. Form of Notices: Standard forms for various notices and communications

7. KYC Requirements: Detailed KYC documentation requirements

8. Cut-off Times: Schedule of cut-off times for various banking operations

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking and Financial Services

Corporate

Manufacturing

Retail

Technology

Healthcare

Real Estate

Energy

Infrastructure

Transportation

Telecommunications

Professional Services

Insurance

Education

Non-profit Organizations

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Operations

Corporate Banking

Account Management

Financial Control

Corporate Governance

Corporate Administration

Relevant Roles

Chief Financial Officer

Treasury Manager

Finance Director

Corporate Banking Manager

Account Relationship Manager

Compliance Officer

Legal Counsel

Financial Controller

Cash Management Officer

Operations Manager

Risk Manager

Company Secretary

Managing Director

Head of Finance

Banking Operations Manager

Senior Finance Manager

Treasury Operations Manager

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